It is likely that the meeting of clients and creditors on 9 January 2012 will be well attended and we recommend that attendees arrive at the venue in plenty of time to complete the registration process and take their seats. Registration will commence at 9.30am. Due to the restrictions at the Barbican Centre, each creditor and client should limit the number of attendees at the meeting to a maximum of three people.
We would suggest that attendees enter the Barbican Centre from its main Silk Street entrance. Stewards will be in attendance to direct attendees to the registration desks.
The meeting format will consist of the Special Administrators presenting their proposals and updating clients and creditors on progress in the special administration. There will then be an opportunity for clients and creditors to ask questions in respect of the proposals and the conduct of the special administration. Clients and creditors who have not already voted will then be asked to vote on the Special administrators’ proposals and the establishment of a creditors committee (likely to comprise three representatives appointed by the "clients" and two representatives appointed by the "creditors").
The Special Administrators will endeavour to be in a position to announce the outcome of the votes at the end of the meeting although, depending on the number of attendees, it may be necessary to announce the result after the meeting. The result of the votes will be made available on this website.
You are reminded that if you would like to vote at the meeting, whether in person or by proxy, you must provide details of your claim to the Special Administrators by 12 noon on 6 January 2012. Please note that the term "client" refers to a claimant who thinks he/she has an interest in in the segregated client money pool under the FSA's client money regulations (CASS 7) or a claimant with a proprietary interest in a client asset or assets.
A "creditor" may well have been a client of the firm in the ordinary sense of the word, but if he does not have a client money or client asset claim under the relevant FSA CASS rules, then he is regarded as a "creditor" for these purposes, with a claim against the unsecured estate. Accordingly, you may have claims against the company as both a creditor or a client. If this is the case and you wish to vote at the meeting, you must fill in both forms. We will be completing a verification process as and when claims forms are received in order to ensure that clients have completed the correct form(s).